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Annual Inventory

On an annual basis, the university is required to take a complete inventory of its equipment. The Business Office will send each custodian a listing of equipment. Custodians are then responsible for locating each piece of equipment and returning the completed forms to the Business Office.

Tagging Equipment

Under Internal Governing Policy No. 163, custodians are responsible for safeguarding equipment and maintaining proper accountability over equipment. Tags and the Banner Fixed Asset system are available to assist custodians with this responsibility.

When payment is made for the item, the Business Office will send you a tag in campus mail.

Blue tags are provided for items costing between $100.01 and $499.99. Custodians should affix this blue tag to the item. The Banner Fixed Assets system does not maintain a permanent record of these items. However, custodians are responsible for tracking, maintaining, and safeguarding this equipment.

Numbered red tags are provided for items costing $500.00 or more. Items costing less than $500.00 may receive a numbered red tag if they are considered to be high-theft items, such as cameras, CD/DVD players, Palm Pilots, etc. Custodians should affix these tags to the piece of equipment and write the tag number with a marking device in an inconspicuous place on the equipment. The Banner Fixed Assets system tracks these items. Custodians may view information about a tag using form FFIMAST.

If tags become separated from the item, please request a new tag from Joni Lutz in the Business Office at 217-581-8327.